Ethereum Financial News

After the Fed's 75bps print, volatility increased and caused liquidation on both sides of the book before selling off to a weekly low of $1220. Subsequently, the price found some relief along with a rise in long open interest. Within a week, the closing price had reversed again, indicating underlying weakness in the market. ETH closed the week at $1,295 and returned -3.01% WoW. Ahead of Wednesday's FOMC, ETH/BTC showed strength, jumping over 4% by Tuesday afternoon. After the Ethereum merger, there was a significant increase in user contract calls. Historically, such behavior has indicated a growth in activity on the Ethereum network that goes beyond simple token transfers. Concerns about network instability may have motivated participants to sideline holdings before the event was successful. After the successful merge was confirmed, along with the cancellation of any technical issues, activity skyrocketed in the following days. Interestingly, increased volumes persisted throughout the week, particularly in the DeFi and NFT sectors.

After the Ethereum network’s transition to proof-of-stake (PoS), staking Ether (ETH) now plays a central role in validating blocks and securing the network. However, some community members believe that the staking process is too difficult, especially for regular people. 

Bitcoin and Ethereum cooled down over inflationary concerns. US Commerce Department report confirming that the world's largest economy was in recession by the traditional definition of two consecutive quarters of negative gross domestic product, hit the sentiments on Wall Street. Top crypto tokens were trading mixed on Friday. Ethereum and Bitcoin dropped marginally, whereas XRP soared 9 per cent. Polkadot gained over 4 per cent, followed by a 2 per cent rise in Polygon and Solana. The global cryptocurrency market cap was trading marginally higher at $942.84 billion, rising less than a per cent in the last 24 hours. However, the total trading volume tumbled as much as 16 per cent, close to $69.93 billion.

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

MakerDAO has launched a new proposal to make progress in terms of fees and debt ceilings. Worth pointing out, however, that these new developments may not have generated interest from retail investors as the price of MKR has been depreciating for a few days now.

Major cryptocurrencies were trading in the red early on October 3 as the global crypto market-cap declined 0.77 percent to $928.67 billion, over the last day. On the other hand, the total crypto market volume jumped 22.06 percent over the last 24 hours to $44.65 billion.

According to a recent report by Glassnode, there has been a spike in the number of new addresses on Ethereum. This could be indicative of a sustained interest in the altcoin. Now, while that may be the case, however, the decline in sentiment and volume seemed to suggest otherwise at press time.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.

Uniswap (UNI) recently outperformed every other crypto in the top-20 list in terms of market capitalization by registering figures of over 8% in seven-day gains. Interestingly, Messari’s data revealed that Uniswap has also consistently maintained a DEX market share of 75% throughout Q3. This, in many ways, is good news for the ecosystem.

NFTs, once a trending keyword in 2021, are seeing their traction and popularity fade in 2022, especially as NFT metrics slide down. Big bulls such as Ethereum-based NFTs have, understandably, faced severe repercussions too.

Major Ethereum scaling solution Arbitrum is reportedly preparing for its much-anticipated airdrop. In light of this, pundits have shared some useful insight on the nature of the airdrop and possible eligibility prerequisites.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

The Merge upgrade for Ethereum (ETH), which primarily sought to transition the blockchain into a proof-of-stake (PoS) consensus mechanism, has been revealed to have a positive impact on the creation of new Ethereum blocks.

Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued an apology to the users while efforts to track down and recover the stolen funds are underway.

Decentraland’s MANA, the native token that fuels the Ethereum blockchain-powered virtual world where users can create, experience, and monetize content and applications, has declined by 75% over the last two quarters. 

Shiba Inu’s [SHIB] trading volume jumped 49.14% in the last 24 hours, and the increase could be the impact of recent large transactions.